Thursday, October 22, 2009

India Post Office Selling Gold Coins

The Mineweb.com website reports the Indian Post Office has been selling specially minted gold coins under a contract with one of India's largest financial services companies.

According to reporter Lawrence Williams, "In an information document submitted to postmasters in the Post Offices selected to sell the gold coins it says that the coins are being sold in popular denominations - namely 0.5 g, 1g, 5g and 8g of 24 ct.,99.99% pure gold."

India Post is quoted as saying that the Indian economy is one of the fastest growing economies of the world. Apparently India Post is competing with the Indian banks, many of which also sell their own specially minted gold coinage

Reports suggest that the selling of gold through India Post has been very successful.

In a separate article appearing on the Sify.com website, it is reported that post offices will be selling gold coins with India Post logo at some point in the future.

Shown above, one of the 24-carat gold coins that are currently on sale.